Guinea: Recent Economic Developments
October 20, 1999
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This paper reviews economic developments in Guinea during 1990–98. Economic developments were dominated by the coming on stream of important oil fields in 1992 and 1996, and the subsequent breakdown in fiscal discipline and transparency. In response to the January 1994 devaluation of the CFA franc, there was also an upturn in the non-oil sector, led by intensification in logging activity that resulted in an unsustainable level of timber output in 1997. Real GDP growth averaged 8.5 percent a year in 1992–95, and rose to 29 percent in 1996.
Subject: Agroindustries, Commodities, Economic sectors, Exports, International trade, Oil, Oil production, Oil, gas and mining taxes, Production, Taxes
Keywords: Agroindustries, broad money, CR, debt service, deficit, export, export crop subsector, Exports, fiscal policy, gas and mining taxes, GDP, government, ISCR, monetary policy, Oil, Oil production, oil revenue, price, private sector, Sub-Saharan Africa
Pages:
84
Volume:
1999
DOI:
Issue:
113
Series:
Country Report No. 1999/113
Stock No:
1GNQEA0011999
ISBN:
9781451815917
ISSN:
1934-7685
